Chinese banks to set up “fast track” to handle foreign media queries?

China’s banking regulator has called on domestic banks to cooperate with foreign media and to set up a 24-hour “fast track” for responding to foreign media interview requests and inquiries during the period of the Beijing Olympics. One Chinese banker noted, “It is very interesting to see that China’s banking and securities regulators chose two completely different media strategies for the same purpose: to protect the good image of these two very important industries.” As we reported earlier, the securities regulatory body has warned fund managers not to speak to the press publicly in any way that would destabilize the stock market which has fallen 50% since its peak on October 2007.